IHY vs. JPST

Last updated Jun 5, 2026

IHY (VanEck Vectors International High Yield Bond ETF) and JPST (JPMorgan Ultra-Short Income ETF) are both exchange-traded funds - IHY is a High Yield Bonds fund tracking the Bank of America Merrill Lynch Global Ex-­‐US Issuers High Yield Constrained Index, while JPST is a Ultrashort Bond fund actively managed by JPMorgan. IHY is passively managed, while JPST is actively managed. Over the past 5 years, IHY returned 1.76%/yr vs 3.61%/yr for JPST. At a 0.21 correlation, their price movements are largely independent. IHY charges 0.40%/yr vs 0.18%/yr for JPST.

Performance

IHY vs. JPST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors International High Yield Bond ETF (IHY) and JPMorgan Ultra-Short Income ETF (JPST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IHY having a 1.35% return and JPST slightly higher at 1.38%.

IHY

• 1D: 0.19%
• 1M: 0.40%
• YTD: 1.35%
• 6M: 2.41%
• 1Y: 6.67%
• 3Y*: 9.16%
• 5Y*: 1.76%
• 10Y*: 4.06%

JPST

• 1D: -0.02%
• 1M: 0.28%
• YTD: 1.38%
• 6M: 1.70%
• 1Y: 4.23%
• 3Y*: 5.15%
• 5Y*: 3.61%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IHY vs. JPST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IHY VanEck Vectors International High Yield Bond ETF	1.35%	13.39%	3.55%	12.11%	-14.34%	-2.82%	8.65%	12.77%	-4.52%	5.44%
JPST JPMorgan Ultra-Short Income ETF	1.38%	4.99%	5.58%	5.13%	1.14%	0.11%	2.18%	3.34%	2.23%	1.00%

Correlation

The correlation between IHY and JPST is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since May 22, 2017	0.21

The correlation between IHY and JPST shifts across timeframes, from 0.21 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.

IHY vs. JPST - Sectors Allocation Comparison

Sectors	IHY	JPST
Financial Services	100.0%	22.6%
Basic Materials	-	0.2%
Communication Services	-	5.5%
Consumer Cyclical	-	2.5%
Consumer Defensive	-	0.7%
Energy	-	0.4%
Healthcare	-	1.5%
Industrials	-	2.1%
Real Estate	-	0.7%
Technology	-	1.8%
Utilities	-	2.8%

Return for Risk

IHY vs. JPST — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IHY

IHY Risk / Return Rank: 34
IHY Sharpe Ratio Rank: 35
IHY Sortino Ratio Rank: 37
IHY Omega Ratio Rank: 34
IHY Calmar Ratio Rank: 29
IHY Martin Ratio Rank: 34

JPST

JPST Risk / Return Rank: 99
JPST Sharpe Ratio Rank: 99
JPST Sortino Ratio Rank: 99
JPST Omega Ratio Rank: 99
JPST Calmar Ratio Rank: 99
JPST Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IHY vs. JPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors International High Yield Bond ETF (IHY) and JPMorgan Ultra-Short Income ETF (JPST). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	IHY	JPST	Difference
Sharpe ratio: Return per unit of total volatility	1.24	7.95	-6.70
Sortino ratio: Return per unit of downside risk	1.89	17.21	-15.32
Omega ratio: Gain probability vs. loss probability	1.22	3.85	-2.62
Calmar ratio: Return relative to maximum drawdown	1.41	28.60	-27.19
Martin ratio: Return relative to average drawdown	5.07	143.05	-137.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IHY vs. JPST - Sharpe Ratio Comparison

The current IHY Sharpe Ratio is 1.24, which is lower than the JPST Sharpe Ratio of 7.95. The chart below compares the historical Sharpe Ratios of IHY and JPST, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IHY	JPST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	7.95	-6.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	6.31	-6.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	3.20	-2.66

Drawdowns

IHY vs. JPST - Drawdown Comparison

The maximum IHY drawdown since its inception was -27.63%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for IHY and JPST.

Drawdown Indicators

	IHY	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-27.63%	-3.28%	-24.35%
Max Drawdown (1Y) Largest decline over 1 year	-4.75%	-0.15%	-4.60%
Max Drawdown (3Y) Largest decline over 3 years	-4.75%	-0.30%	-4.45%
Max Drawdown (5Y) Largest decline over 5 years	-27.63%	-0.79%	-26.84%
Max Drawdown (10Y) Largest decline over 10 years	-27.63%	—	—
Current Drawdown Current decline from peak	-0.72%	-0.04%	-0.68%
Average Drawdown Average peak-to-trough decline	-5.28%	-0.08%	-5.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	0.03%	+1.29%

Volatility

IHY vs. JPST - Volatility Comparison

VanEck Vectors International High Yield Bond ETF (IHY) has a higher volatility of 1.32% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.15%. This indicates that IHY's price experiences larger fluctuations and is considered to be riskier than JPST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IHY	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	0.15%	+1.17%
Volatility (6M) Calculated over the trailing 6-month period	3.93%	0.36%	+3.57%
Volatility (1Y) Calculated over the trailing 1-year period	5.39%	0.54%	+4.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.73%	0.58%	+7.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.72%	0.93%	+6.79%

IHY vs. JPST - Expense Ratio Comparison

IHY has a 0.40% expense ratio, which is higher than JPST's 0.18% expense ratio.

Dividends

IHY vs. JPST - Dividend Comparison

IHY's dividend yield for the trailing twelve months is around 5.67%, more than JPST's 4.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IHY VanEck Vectors International High Yield Bond ETF	5.67%	5.31%	5.60%	5.26%	4.97%	4.55%	4.65%	4.86%	4.70%	4.36%	5.11%	5.79%
JPST JPMorgan Ultra-Short Income ETF	4.26%	4.43%	5.16%	4.79%	1.83%	0.73%	1.43%	2.69%	2.07%	0.96%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IHY and JPST in my portfolio?

IHY and JPST have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IHY or JPST?

IHY has higher volatility (1.32%) compared to JPST (0.15%). In terms of maximum drawdown, IHY dropped -27.63% vs JPST's -3.28%.

Which ETF is better, IHY or JPST?

On 5-year performance, JPST leads with 3.61% vs 1.76% for IHY. On fees, JPST is cheaper at 0.18% per year. On volatility, JPST has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IHY or JPST?

Over the 5-year period, JPST has performed better with a 3.61% return vs 1.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IHY or JPST?

JPST is cheaper with a 0.18% expense ratio, compared with 0.40% for IHY.

Which ETF pays a higher dividend yield, IHY or JPST?

IHY has the higher dividend yield at 5.67%, compared with 4.26% for JPST.

What is the main difference between IHY and JPST?

IHY is categorized as High Yield Bonds, while JPST is Ultrashort Bond. They also come from different issuers: VanEck and JPMorgan. Their fees differ too: 0.40% for IHY and 0.18% for JPST.

Which has better risk-adjusted returns?

JPST currently has the higher Sharpe Ratio (7.95 vs 1.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.